his company received from the Securities and Exchange Commission regarding a Facebook post he made in July Hastings’ July posting touted company’s streaming-subscriber growth, saying that monthly viewing for the company’s streaming service had exceeded 1 billion hours “for the first time ever” during the month of June.

The SEC told Netflix on Wednesday it may bring a civil injunctive action against the company for a violation of fair disclosure rules as a result of the post.

In Thursday’s SEC filing disclosing the SEC action, Hastings called the regulatory action “a fascinating social media story,” and explained that he believes “posting to over 200,000 people is very public, especially because many of my subscribers are reporters and bloggers.”

He added that Netflix does not “currently use Facebook and other social media to get material information to investors,” but uses SEC filings, press releases and letters to investors.

“We think the fact of 1 billion hours of viewing in June was not ‘material’ to investors, and we had blogged a few weeks before that we were serving nearly 1 billion hours per month,” Hastings wrote. “We remain optimistic this can be cleared up quickly through the SEC’s review process.”

Hastings argued that “while our stock rose the day of my public post, the increase started well before my mid-morning post was out, likely driven by the positive Citigroup research report the evening before.”

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